Advanced Soltech Sweden AB (publ) has signed a second order with ZhouShan Putuo Changhong Ship Repair Co ltd, a company that repairs and maintains ships. The order is for the additional installation of a solar power plant totaling approximately 6 megawatts (MW) and is expected to generate annual revenues from electricity sales of approx. SEK 5.65 million, or approx.

SEK 113 million during the 20-year term of the agreement. The investment in the facilities, which will be owned by Advanced Soltech's wholly-owned subsidiary in China, amounts to approx. SEK 42 million and construction start is planned for the first quarter of 2024.

The annual savings in carbon dioxide emissions are estimated at 3,800 tonnes. The project is located in Zhejiang province and is profitable without any subsidies.